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20131202
20131210
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recession. but what kind of jobs is the economy creating? an ice storm causes havoc t middle of the country. manuel bojorquez is there. and allen pizzey on the years that made the man. >> for 18 of the 27 years he spent in prison, nelson mandela walked down this corridor everyday and at the end of that walk there was no freedom, there was this. >> reporter: with bob simon on the moment he was free. >> after 27 years, his head was high and his fist was clenched. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, the south african government announced plans today for a week of memorial services for nelson mandela, culminating with his funeral a week from sunday. president obama will lead a u.s. delegation, expected to include a number of former presidents, though it is not known which of the services he will attend. mourners continued to gather today at mandela's home in johannesburg where he died last night and at his former home in soweto. perhaps no one image summed up his legacy better than this. >> blacks and whites signed by side honor
a good time. >> reporter: despite an improving economy, triple-a says consumers are uncertain about what tomorrow might bring, projecting a 3.7% drop in all air travel this year. reporting live at sfo, don knapp, kpix5. >> when the final numbers are in t is expected 43.5 people traveled this weekend. most of them 39 million by car. >>> it turns out a friend of paul walker was behind the wheel when the car they were in slammed into a pole and burst into names last night. speed was definitely a factor. the driver identified as roger rodis. he owned a sports car dealership and was a professional race car driver. the two men just left a fundraiser, paul walker's father was visibly shaken by what happened. >> i am just glad every time i saw him i told him i loved him. [crying] >> poor guy. walker was 40 years old. he leaves behind a 15-year-old daughter. a memorial is growing at the crash site as fans pay their respects. they are leaving behind flowers and notes and there has been a steady stream of visitors to the site. tyrese gib son was among those who stopped by. he starred in "fast and f
really made sense. another, since california's economy continues to struggle, i do not believe it is appropriate for me to accept a pay raise. per diem pay will also go up from $142 a day to $163. still $10 less than before the recent cuts. hill says it's needed with the high cost of living in california. >> we don't want it just to be those of the wealthy. we want to make sure that everyone can participate and still live in their communities. >> reporter: even before this raise, california lawmakers were the highest paid in the nation. but they don't receive pensions. and many other state legislatures only meet on a part-time basis. in the newsroom, anne makovec, kpix 5. >>> it's a good day to look for deals online. cyber monday is under way, the busiest online sales day of the year for retailers. sales are expected to hit a record $2 billion, that's about $500 million more than last year. businesses are hoping for a big online shopping day after a somewhat disappointing weekend. according to the national retail federation, 141 million people went shopping over the long weeken
price, we understand the cnections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> schieffer: we're going to continue our look at nelson mandela legacy. gale king usually i'm on her set we're thrilled to have her with us on "face the nation." lorraine miller is an old friend of mine from way back in texas. she's now the interim head of the naacp we welcome her to the broadcast. gwen eifle moderator of "washington week" and michelle morris is the npr host and special correspondent and way up there in new york, rich stingle former managing editor of "time" magazine they have put out a special issue honoring mandela. rick also worked closely with nelson mandela on his biography wrote the book "mandela's way" i want to start with gale king, you came to know nelson mandela quite well. >> i actually did. i have to say that i am forever gra
and by the crowds and folk us on family and having a good time. >> the economy may be improving but not fast enough apparently for some customers. travel is project those who host faith in the future that travel will drop 3.7% for holiday air this year. reporting live at sfo. don knapp, kpix5. >> it is expected 43.5 million people will travel had this weekend and most of them, 39 million by car. >>> new details are emerging about the fire car crash that killed actor paul walker. now, we have the emotional reaction from his father. >> i just am glad every time i saw him i told him i loved him. [crying] >> reporter: paul walker's father is trying to deal with the death of his son who was named after him. one of four children, a neighbor told us he and his wife raised in this house. today, friends and family got together here. >> can't beat friends at a time like this. and brothers. we are all taking it pretty hard. >> walker leaves behind a 15- year-old daughter, medo. >> going to take time and dad she is 15, i don't have much more time to get with her and boom another movie. oh. i don't know what t
projected travel will be down 4% to 3 million travelers. the economy may be improving but not fast enough for some. triple-a travel is projecting a 3.7 in air travel this year. >>> one of the apparentlies heading out of sfo. a group of kaiser medical professionals, they left a few hours ago for the philippines to take care of typhoon victims. one nurse says her young daughter is supportive. >> my 11-year-old said mama those kids over there might not get christmas t is okay that we don't. >> team members are volunteers and many helped out after the earthquake in hatey and after hurricane katrina. >>> a family of veteran detained in north creia says he appeared to be in good health. -- korea says he appeared to be in good health. the north is accusing him of hostile acts during the war. swedish ambassador visited him in a hot skpel newman says had sebeing treated well. >>> a teen shot and killed by a sheriff's deputy may have a memorial park created in his honor. lawmakers will meet tuesday to discus requests from the community. a deputy shot 13-year-old andy lopez in october because he mis
. >> the question is how would this affect the economy? some would say it would hurt small businesses. but also it can spur the economy because workers will have extra money in their pocket. >> we always have these studies. you can get a study to say anything you want. i looked at three, one from university of mass, one from the industry and one from university of california. they say it could raise the price of a hamburger from 10 to 30%. instead of $3 it could be $3.20, $3.30, $3.60. are americans willing to pay that? that's the question. if you want americans and american wages are you going to pay for it? >> there is a look of maybe keep it with inflation. have the wage increase with inflation through the years. that's one of the things they're talking about. >> that's also a good way to get out of it politically because rather than having it vote to increase it, it just goes up. >> then the prices do too. >> we'll be talking about that in the next half hour, if there is a fair increase on the way. >> the city where electronic cigarettes are banned in places and why this could be the start
of our time making sure our economy works for every working american. the opportunity gap in america is now as much about class as it is race. that gap is growing. so if we're going to take on growing inequality and improve upper mobility for all people, we've got to move beyond the false notion this is an issue exclusively of minority concern. >> good morning major garrett at white house. >> reporter: good morning charlie, norah, viewers out west. he gave the speech of what he believes an obsession republicans have to prosperity. the white house disagrees on this issue coming front and center in the next couple of weeks. congressional negotiator democrats and republicans on capitol hill are trying to figure out a way to avoid the second round of across the board spending cuts otherwise known as sequestration. those cuts would harm the push for better economic growth and wage equality. another push from the president, renewed push for higher minimum wage. currently $7.25 an hour. the white house backs the democratic proposal to raise to $10.10 an hour. these are
on the economy. adp says it was a gain of 215,000 jobs in november. that was about 30,000 more than what was expected. adp also hiked its october number considerably higher. that bodes well for the jobs report that comes out on friday. if we see a conversation that we saw in october that could finally push the reserve into tapering its monthly bond purchases. it meets later this month. that's the been speculation that's been going on for months now. looking for better signs in the economy we are starting to see that happen. that's leading to selling on wall street. couple of companies that did well yesterday despite some selling were apple and tesla. tesla shares shot higher by 16% after german regulators cleared any manufacturing defects from those model s fires and apple shares went up about 2.5% on reports it's struck a deal with china mobile the biggest wireless carrier in china. the numbers are pulling back today. let's look at the big board. right now the dow is lower by 43 points. nasdaq is down by about 8. s&p falling by 6. and tesla shares are down 3%. apple down by .5%. back to
an economy are blooming for people with access to greater education, more experience in high-tech industry, and not necessarily people who are in our neighborhoods. >> reporter: gabriel metcalf of the san francisco planning and research association understands the apprehension. >> people are really afraid especially renters like me if you lose your apartment, you have to move out of the city most likely. >> reporter: speaking of moving, a just released mayoral task force report estimates the city will need to spend $10 billion on roadways and transportation just to keep pace with the growth. >> we are going to be in for a world of hurt if we don't start aggressively investing in transit. >> reporter: are we looking at gridlock? >> yes. i'm already seeing it. >> on muni now, it has $2.2 billion in unfunded deferred maintenance. >> reporter: the building goes on and on and on with the next big project being the planned warriors arena on the waterfront which is enjoying a growing support despite critic charges that it's too big and will be a traffic nightmare. according to a new kpix 5/surv
invest. it's everyday reinvesting for your personal economy. be careful babe. [ doorbell rings ] let's see what's cookin'. look at this. that's a swiffer. i don't have to climb up. did you notice how clean it looks? morty are you listening? morty? [ morty ] i'm listening! i want you to know. and i had like this four wheninch band of bumpslestening? it started on my back. that came around to the front of my body. and the pain from it was- it was excruciating. i did not want anyone to brush into me to cause me more pain than i was already enduring. i wanted to just crawl up in a ball and just, just wait till it passed. it's holiday time, and no fruit is as versatile as our ocean spray cranberries, which is why were declaring it the unofficial official fruit of the holidays! the fig's gonna be so bummed. [ laughs ] for holiday tips and recipes, go to oceanspray.com. ♪ >> osgood: carefree highway is just one of the songs that earned gordon lightfoot a secure place in the ranks of modern singer/songwriters. this morning he talk to john blackstone for the record. ♪ >> we begin with a w
to stimulate the economy. the new york times reports an announcement to cut the program could come next week. officials expect the nations economy to improve in the new year. that could put a stop to the big games on wall street over the past couple of months. the stocks were flying high friday after the announcement of a stronger than expected jobs report. the dow finished 198 points higher, the nasdac rose 29. and interesting information about the new rich in our country. a survey shows 21% of u.s. adults become rich for part of hair lives, earning a household income of a quarter million dollars or more at some point. those in the group made up of older professionals, working married couples, and educated singles usually make at least six figures a year during other periods which is in the top 20% of earners. frank and michelle? >> okay, wendy. well the world will have a new biggest airline today, right? >> it's going to be in the u.s.. american airlines will merge with u.s. airways when their deal goes through later today. the government had tried to block the merger. the deal will lift a
and career change, fidelity is there for your personal economy, helping you readjust your retirement plan along the way, rethink how you're invested, and refocus as your career moves forward. wherever you are today, a fidelity i.r.a. has a wide range of investment choices to help you fine-tune your personal economy. call today, and we'll make it easy to move that old 401(k) to a fidelity i.r.a. >> cooper: one of the most extraordinary stories of bravery to emerge from the war in afghanistan began when a four- man navy seal team found themselves badly outnumbered in a long and vicious firefight. only one of the seals survived. his name is marcus luttrell, and tonight, you'll hear his account of a mission that went horribly wrong after he says his unit was surprised by, of all things, some goat herders and their goats. marcus luttrell's three seal teammates weren't the only american casualties in the battle. a chopper with 16 other special operations forces that had rushed to help luttrell and his team was shot out of the sky. everyone on board was killed. at the time, in june 2005, it was
of our economy like health care. they have some positive alternatives they need to highlight them more and i think need to advance them more i think paul ryan will introduce a pretty big set of republicans alternatives not one giant bill. medicare, medicaid, corporate market he'll introduce something probably right after the new year or at least layout the principles of it so people can say with more comfort, i think more truth that republicans do have a positive agenda. >> dickerson: you write in the "washington post" today about how difficult it is to manage in the federal government. talk about that, is this just a management problem that just hard to do stuff in the federal government? >> it is very difficult to do such a major complex thing for the federal government. project like this, there's plenty of examples that we cite in the op ed piece, federal government trying to do major technological changes. to systems and difficulties of them. so i think there is very much a problem of management in the federal government, this is a democrat-republican problem. this administration
in any startup, any launch of a project this big that has an impact on one sixth of our economy, whatever comes up we're going to just fix it. >> the white house expects a big traffic surge to the website in a few weeks. and that's when consumers will probably rush to get insurance coverage by january 1st. >>> we're seeing startling new images of a wrecked commuter train in new york city as the engineer reveals new details about the deadly crash. >> a warning for tourists on the island of maui. the troubling trend that has wildlife officials so concerned. ,,,,,,,,,,,,,,,, boston that gutted a five s building overnight. within >>> it took more than a dozen fire engines to battle a raging fire in boston that gutted a five-story building overnight. within minutes, flames were shooting out of control blowing out several windows. according to officials, janitors were inside when the fire started. they were able to evacuate safely through a back door. no one was injured. >>> autopsies are scheduled today on actor paul walker and his business partner, who both died in a fiery crash. this is spe
president obama talks about the economy and his call for increasing the minimum wage. in his speech the president will address the income gap between rich and poor. yesterday the subject was health care, the president urging americans to give his affordable care act a second look. major garrett reports. >> reporter: president obama asked the country for a second chance. as he did so, the president joked about the wild promises, his words, that he made about the health care law itself. promises will be fewer in the future, the president said. adding improved performance will turn obama care around. >> our poor execution in the first couple of months on the website clouded the fact that there are a whole bunch of people who stand to benefit. now this we now that we're getting technology fixed, we need to go back and take a look at what's actually going on because it can make a difference in your lives and the lives of your families, and maybe it won't make a difference right now fw you're feeling healthy, but i promise you, if somebody in your family, heaven forbid, gets sick, you'll
on that. thanks for joining us today. leslie, tell us, what is it like? is the economy getting better? what do you see for need? >> unfortunately for the people we serve, we are not seeing the need decreasing. in fact, we're seeing our pantry lines getting longer. you may have seen in the news that recently snap benefits or food stamps were cut and also holidays are a hard time for low income people as we try to provide special things for our families and everybody is looking for a special holiday meal. really appreciate the support this time of year. >> at this time of year we all seem to get so busy and running around. sometimes we just need to take a moment to think about helping some of those people. >> absolutely. we really appreciate opportunities like with whole foods and kpix 5 and most of the support we get comes from individuals and corporations. it comes right here from the community. so sure appreciate it. >> and whole foods steps forward to really help out with this event. tell us what whole foods is going to do? >> whole foods market is proud to partner with kpix 5 to s
. >>> a federal reserve survey found the economy held steady during the 16-day government shoulddown. the government released its beige book survey yesterday. seven of the bank's 12 banking districts found the growth moderate. most will not change its stimulus program when it meets on december 17th. >>> start the presses. "newsweek" is going back into print. paper copies of "newsweek" will begin rolling off the presses next year. "newsweek" stopped publishing print editions a year ago. the magazine's owner, ibt media, wants the weekly version to be paid for by subscription fees instead of advertising. no word on how much that magazine will cost. >>> well, the super bowl is still two months away but all the ad spots for the game broadcast have been sold. that's one month earlier than last month's game. fox sports says one reason is that the super bowl will be played in the new york market. it's estimated that some 30-second spots sold for more than $4 million. >>> and, anne-marie, you have a smartphone, right? maybe a smart tv? but how about a smart bra? well, it's a concept from micr
program. the economy has added an average of 202,000 jobs a month from august to october. the unemployment level stands at 7.3%. indications that the fed may cut back its economic stimulus sent stocks lower on wall street. the dow jones industrial average lost 68 points, its fifth straight day of decline. the nasdaq fell 4 points. asian markets were cautious ahead of the u.s. jobs report. tokyo's nikkei gained nearly 1% and hong kong's hang seng added a fraction. >>> general motors is pulling most of its chevrolet brand from europe. most chevy sales in europe will end by the beginning of 2016. gm says it will concentrate its european sales efforts on its german made opal brand. they'll offer the corvette throughout europe. >>> and fast food workers demonstrated for higher wages yesterday. protests and work stoppages were held across the country. the effort to raise the minimum wage to $16 an hour began about a year ago led by the service employees international union. >>> and when a tennessee couple ordered breakfast at mcdonald's, drive-through, they got bucks instead. greg and stacy terr
of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> schieffer: this summer when nelson mandela's health took to the worse, i asked what nelson mandela meant to hem. powell had been invited to mandela's inaugural as military man remembers thinking that he saw something that day he would not have thought possible. white generals showing allegiance to the country as new black president. it was mandela's sense of forgiveness that powell will carry with him forever. >> when he came out of jail, he was being pestered with questions and what not. and he was asked, well, aren't you mad, what are you going to do about this? what are you going to do this these people? he said, if i felt that way, if i felt i had to do something to them i would still be in jail. my mind, my soul would still be in jail. instead he talked about reconciliation, truth in w
officials expect continued improvement in the nation's economy in the next year. the feds have repeatedly criticized the program. the new york times says the plan to cut the bond buying program could come next week. >>> gasoline prices are moving higher. the average price of a gallon of regular nationwide increased 3 cents over the past two weeks to $3.28. the lundberg survey says prices at the pump have risen 6 cents over the past nine months after a three-week decline. >>> and "frozen" frosted ""the hunger games."" the disney animation took first place with $31 million in ticket sales. after dominating the box office for two weeks "the hunger games: catching fire" came in second. "out of the furnace" was a distant third at $5 million. >> i sense the theme, we're moving to cold weather so that's something we want to see on the big screens or something along those lines. >> how parallelous. >> thanks a lot, wendy. >>> straight ahead, your monday morning weather. and in sports, follow the bouncing ball. the steelers try to lateral their way across the dolphins. we'll let you know if it wor
like big items like cars or art, when it comes not fluctuating economy of california you never know when a simple cyber monday purchase could come back to haunt you. >> of course, there have been moments where they kind of needed every dime they could get. >> reporter: earlier this year, the senate passed a marketplace fairness act which would require retailers with over a million a year in sales to collect state tax but the bill is stalled in congress. and it's being rewritten. >> what do you do if you go to a site and there is no place for sales tax? in other words, you can't add it on there. they don't charge sales tax. >> reporter: a lot of companies especially smaller companies aren't required to collect this at the point of sale so you actually have to keep the receipt and when you pay your income taxes you have to say -- [ laughter ] >> -- i purchased this. >> i'm going to turn myself in? >> and pay this. >> if you don't, the state could come back and force you to pay retroactively charge you penalties. right now, it's probably only going to happen on big ticket items but yo
of the economy. >> they are bad jobs, most of them. the jobs that are coming back pay less than the jobs we lost in the great recession. we have a growing army of low- wageworkers. >> reporter: but the story did not start with the recession. it goes back decades. >> starvation of wages and decline, in fact of many people's wage, has been going on since the late 1970s. we didn't really recognize that. >> reporter: instead americans found different ways to cope. in the '70s and '80s, huge numbers of women entered the workplace, partly to boost their family income. in the '90s, americans found themselves working longer hours. when they didn't work, people used their homes as piggy banks or backed out their credit cards. >> and now all of the coping mechanisms are exhausted. people have to face the fact that wages are going nowhere. >> reporter: that hurt the any for all of us. >> if they don't get paid more, they can't turn around and buy stuff. >> reporter: the cost that employers will not cover, that's picked up by you. >> rest of us subsidize the employers by paying for the medicaid and food sta
on my credit card. >> reporter: clearly, good for the shopper and the economy in his case. now, you should know that same- day delivery is free until christmas. here and at eastridge mall. after that it will be $5. and ebay now is offering a similar service at some select stores in the ferry building in san francisco as well free until christmas, $5 after that. >> all right. that's not bad. >> yeah. >> sounds like a good idea. they have to do something. they are getting eaten align from the online shopping. >> you can see what you like walking around. >>> coming up in the next half hour -- >> for retail it's not conducive. there's nobody. >> how neighborhood staples are falling victim to a transformation meant to attract a younger crowd. >> didn't come across as someone above everybody else. >> what a bay area pastor remembers most about his meeting with nelson mandela. >> how an investigation after the death of paul walker has led to an arrest. ,, ,,,,,,,,,,,,,,,,,, transformation... and placi >>> there's just no viability in this city for daytime retail. >> now at 6:30, forced to
and the unemployment rate fell to 7% nationwide. so what does that mean for the economy? cbs news contributor and analyst melody hobson joins us from chicago. good morning. i've sort of covered all the good news was there any bad news in the latest report? >> there was a lot of good news in that report 203,000 jobs you've mentioned. the september and october numbers were revised up. the unemployment rate hit a five-year low at 7%. and where the jobs were coming from, that was great news. construction professional services, manufacturing. those are higher-paying jobs. which is why we saw wages by the hour go up for the moth. and also the work week be a bit longer so if you look across the board, the news was very, very good. >> the markets, the dow rallied 200 points on this which is interesting, because in recent weeks, when there's been good news, the dow has tended to pull back. in part because it's afraid that that will mean the fed will start pulling stimulus out of the economy. why did the market go up yesterday, do you think? >> i think two things went on at once. it's
on big items like cars or art, when it comes to the fluctuating economy of california, you never know when a simple cyber monday purchase could haunt you. >> there have been moments when they needed every dime they could get. >> reporter: julie watts, kpix 5. >> earlier this year, the u.s. senate passed the marketplace fairness act. it would require retailers with over a million dollars in sales to collect state tax but the bill is stalled in congress. >>> coming up at 5:19, how low will they go? a look at whether gas prices are still dropping now that thanksgiving is over. >>> and i'm dennis o'donnell. coming up, the 49ers look to gain some ground in the nfc west and the a's add some pitching to the roster in a big, bi shake-up. we'll tell you who is coming and going. >> what's cool about your school? email your nomination to us at coolschools@kpix.com. we may come and feature your school on the show. ,,,,,,,,,,,, >>> cold front sliding into the bay area. a major change in the weather coming our way. get ready for freezing temperatures. we'll talk about that coming up. >> and it's a
sign of a recovering economy. thanks, wendy gillette of cbsmoneywatch.com. >>> 5:40. hot for the holidays this year, fitness trackers and one special function gives you a boost to burn more calories. >> beer drinkers versus wine drinkers. when it comes down to it, who is the smartest? >> and still ahead, think twice before you complain to your airline. how your quibbles could cost you your frequent flyer status. ,, ,,,, ,,,,,,,, [ male announcer ] some things are simply better at home. like the enticing aroma and distinctive taste of nespresso. elegant capsules meet masterfully crafted machines, and one touch creates the perfect coffee, cappuccino, and latte. ♪ tempt all your senses with one extraordinary coffee. [ penélope cruz ] nespresso. what else? [ male announcer ] discover the world of nespresso on grant avenue and nespresso-us.com. number of retailers are offg customers a wa >>> the holiday shopping season is now in full swing. and a growing number of retailers is offering customers a way to buy big ticket items that's generating some controversy. kpix 5's juli
changes. >> this city and the economy seem to be blooming for people who have access to greater education and more experience in high-tech industry and but not necessarily people who are in our neighborhoods. >> with high-rises leading to higher rents there will be a demand for affordable housing for people who feel their being squeezed out. >>> time now 6:41. the 9ers only have two more scheduled games at candlestick. wait until you hear what it will cost to say good-bye. >> how about the market opened up about 10 minutes ago on this thursday? take a quick peek at the early numbers on wall street. everything is down. we'll have more with kcbs radio's financial reporter jason brooks. coming up. [s[man] no one told her,right?a. [son]hi! [mom screams] cold when an apartment buil caught fire in san leandro. at >>> we're following some breaking news now. dozens of children were left out in the freezing cold when an apartment building caught fire in san leandro. this is a live look at chateau bleu apartments on bancroft. it started at 4:30 this morning. about 50 people including the children e
there is further strength building in the labor market. that's good news overall for the economy. could push the fed towards tapering its bond issues sooner than some people may like but this is good news all the way around. let's look at the market. it is reacting in a positive fashion today. the dow is up 127 points. nasdaq is gaining 27. s&p up by 14. >>> brooks, we thank you. have a great weekend. >>> he practiced. >> i wrote it down. 6:45. let's check the roads. >> reporter: in a quick note we have police activity in san jose around almaden and san carlos. streets are blocked in the area. we are trying to figure out what's going on. heads up if you are traveling in the area. let's go outside. here's a live look over at the bay bridge toll plaza. the metering lights were turned on later than typical. so a lot of folks may be taking today off. you will notice if you look closely some flashing lights around the middle of the screen, there is a multicar accident. it sounds like a smaller fender- bender minor injuries. but it is in agore point. traffic is so light no major delays only backed
be in for a very strong open here on wall street because the economy added a better-than-expected 203,000 jobs last month. wall street was expecting 180,000. the unemployment rate fell to 7% from 7.3%. that is better than expected. and that report may convince the fed to finally scale back its stimulus program. not necessarily something wall street wants to see happen. nevertheless, stock futures are reacting. they are pointing to a higher open. yesterday the dow fell for the fifth straight day down 68 points and the nasdaq slipped 4. los angeles is suing wells fargo and citigroup for mortgage discrimination. l.a.'s attorney general claims the bank's practices led to a wave of foreclosures in black and hispanic neighborhoods driving down property values and costing the city hundreds of millions in tax dollars. it's also more expensive to finance a home this week. according to freddie mac, the average rate on a 30-year fixed loan jumped to 4.46% from 4.29% last week. the rate on a 15-year loan increased to 3.47%. well, brace yourself because milk prices could double next year to $7 a gallon. that's
it may be okay. but the economy remains fragile. especially at the lower income level. and i think that has the retailers very, very nervous. people are absolutely looking for bargains. promotions are top of mind. 50% of shoppers this weekend said they were looking for a bargate, looked for promotions before they went to the store. a third said that they compared prices. through their device smartphone tablet whatever they were carrying around because they are armed and ready and will not buy until they see bargains. i call it a promotional arms race that's going on amongst the retailers. >> okay my inbox is a promotional arms race. there's a sale on everything. >> and most people today know how to seek information better than they've ever done before because of the online femme on none. >> that's right. the online has not increased the amount of shopping people are doing it's increased the ways they shop. that billion dollar number was significant and there's certainly more of the weekend spending was on line 44%. four out of every ten americans bought someth
on issues including north korea, the economy, and trade where china and the united states might cooperate? for "cbs this morning," seth doane, beijing. >> this morning unions and retirees in detroit prepare appeals. a federal judge ruled tuesday the motor city can cut pensions clearing the way for detroit to enter bankruptcy. this decision is a major blow putting municipal workers on edge and cities across the country. dean reynolds is in detroit. good morning. >> reporter: good many. detroit officials are talking about a fresh start through bankruptcy. that will involve very tough cuts and many public sector retirees here are bracing for painful sacrifices that could set a precedence around the country. >> do you feel betrayed? >> i feel betrayed shortchanged. i feel angry. i feel a lot of different things now. >> get you moving and then try the treadmill. >> david allen was a firefighter 20 years before the on the job accident left him barely able to stand. he's been getting a monthly pension of $3,000 from the city but he knows that's coming to an end. >
Search Results 0 to 33 of about 34 (some duplicates have been removed)